R1 RCM announced plans to build the R1 Technology and Innovation Center in Salt Lake City, Utah in collaboration with Intermountain Healthcare. Scheduled to open in May, the 30,000 square foot facility will be used to evaluate patient needs, test product concepts and elevate creativity and design, tackling some of the biggest problems faced by patients and healthcare organizations. R1 expects adoption of technologies such as AI and RPA, or robotic process automation, in the revenue cycle to play a role in helping healthcare providers improve their operations. Along with the development of RCM solutions, the center will also feature a virtual revenue cycle model office, serve as a client experience center and support the growing tech community in Utah.

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Constellation Brands (STZ) initiated with an Overweight at Atlantic Equities. 2. Take-Two (TTWO) initiated with a Buy at Deutsche Bank, while Electronic Arts (EA) and Activision Blizzard (ATVI) were initiated with a Hold. 3. Insys Therapeutics (INSY) initiated with an Overweight at Cantor Fitzgerald. 4. Heico (HEI) initiated with a Buy at Vertical Research. 5. R1 RCM (RCM) initiated with an Overweight at KeyBanc. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

R1 RCM initiated with an Overweight at KeyBanc. KeyBanc analyst Donald Hooker started R1 RCM with an Overweight rating and $10 price target as a way for investors to play what he expects will be an increasing trend of revenue cycle outsourcing by U.S. health systems. The analyst believes R1 RCM is a beat-and-raise story, benefiting from low consensus expectations and a large $80B-plus TAM.

R1 RCM designated as a Fresh Pick at Baird. Baird analyst Matthew Gillmor designated R1 RCM as a Fresh Pick ahead of the company's presentation at the JP Morgan conference later this week. He believes it is likely the company will provide 2019 EBITDA guidance in-line with to ahead of Street expectations and thinks there could be a positive update with respect to its 2020 outlook. Gillmor reiterated his Outperform rating and $11 price target on R1 RCM shares.

R1 RCM initiated with a Buy at Citi. Citi analyst Stephanie Demko started R1 RCM with a Buy rating and $20 price target. The company operates as the largest independent end-to-end revenue cycle management provider in the U.S., and is well positioned to benefit from growing demand for provider-facing information technology, Demko tells investors in a research note.

Subject to finalization of purchase accounting for the Intermedix acquisition, for 2018, R1 expects to generate: Revenue of between $850 million and $900 million; GAAP operating loss of $30 million to $50 million; Adjusted EBITDA of $50 to $55 million.